Looking to diversify beyond PDSYX? The mutual funds below have historically moved differently from PDSYX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for PDSYX
1 mutual funds have low correlation with PDSYX (below 0.3), 0 of which are negatively correlated. The least correlated is LoCorr Macro Strategies Fund Class I (LFMIX) (Global Allocation) with a 1Y correlation of 0.17, up from -0.11 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| LoCorr Macro Strategies Fund Class I | 0.17 | -0.03 | -0.11 | 79 | Global Allocation | PDSYX vs LFMIX | |
| Nuveen Multi-Asset Income Fund | 0.32 | 0.47 | — | 67 | Global Allocation | PDSYX vs NMAI | |
| MH Elite Select Portfolio of Funds Fund | 0.33 | 0.34 | 0.56 | 68 | Global Allocation | PDSYX vs MHESX | |
| Allspring Absolute Return Fund | 0.35 | 0.55 | 0.57 | 86 | Global Allocation | PDSYX vs WARAX | |
| Principal LargeCap S&P 500 Index Fund Class A | 0.36 | 0.51 | 0.62 | 60 | S&P 500 | PDSYX vs PLSAX |
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